Airnav Indonesia books profits of Rp479 billion

Airnav Indonesia books profits of Rp479 billion

President Director of Airnav Indonesia Novie Riyanto elaborated on the company's performance in 2019 at a discussion in Jakarta on Thursday (Dec 26, 2019). ANTARA/Juwita Trisna Rahayu/sh

Jakarta (ANTARA) - Indonesia's air navigation service provider Airnav Indonesia has booked profits reaching Rp479 billion in 2019, burgeoning from Rp406 billion in the previous year despite sluggish growth in the commercial flight industry during the year.

President Director of Airnav Indonesia Novie Riyanto stated during a discussion here on Thursday that international flights contributed the highest to profits.

"Domestic air traffic has dropped significantly, but with stable overflying and international flights, this did not significantly impact us," Riyanto explained.

Riyanto pointed to international traffic contributing 60-70 percent to the company's income.

Airnav's revenue was recorded at Rp3.7 trillion in 2019, rising from Rp3.3 trillion in 2018.

AirNav Indonesia recorded that Indonesia’s domestic air traffic had decreased 17.5 percent in 2019, crossing the initial forecasted drop of five percent.

A smaller percentage decline was also recorded in international flights, with a 0.1-percent drop in 2019.

The slow traffic of the commercial flight industry was not only observed in Indonesia but also globally. The International Air Transport Association (IATA) recorded a three-percent drop in passengers than that of 2018.

In the meantime, the air cargo industry registered a five-percent drop as compared to last year, Riyanto stated.

However, he expressed optimism that the flight industry will recover next year, with domestic flights targeted to register a two-percent growth and international flights by four percent.

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